Jewellers hope to strike gold during Akshaya Trutiya.

BHUBANESWAR: With Akshaya Trutiya round the corner, both jewellers and customers have a reason to cheer. Jewellers have announced discounts on gold and diamond jewellery for the auspicious day, which sees a spurt in the sale of gold every year.

"This year, we are optimistic about good sales during Akshaya Tritiya that falls on May 2. The sale of gold has been slow during the first three months of the year," said Mitesh Khimji, director of Khimji Jewellers and regional chairman (east) of All India Gems and Jewellery Trade Federation.

But Pradymna Sahu, manager of a city-based jewellery shop, had a different opinion.

"Gold prices are steady for the past few months. As there has been no rise in price, chances of investment in the precious metal is little," he said.

On Monday, the price of 24-carat gold in Bhubaneswar was Rs 30,170 per 10 gm, while 22-carat gold costs Rs 28,230 per 10 gm. Silver cost Rs 4,503.00 for 100 gm.

Jewellers said sales this year cannot be compared to that of last year because of government restrictions on import of bullion. However, even with a huge deficit of raw gold, markets are expected to revive during Akshaya Trutiya.

"Despite restrictions on the import of gold and other policy-related problems, we are expecting a growth of 15% to 20% during Akshaya Trutiya as compared to last year. Keeping in mind the needs of the people, we have also launched new lightweight designs, daily-wear items and traditional designs," said an executive in the city's Gitanjali Jewellery showroom.

Maya Jewels by Gitanjali are offering a 20% discount on making charges and up to 25% off on the purchase of diamond jewellery. "Gold has a religious significance during Akshaya Trutiya. It is also a safe investment. Shares, currency and financial dealings are unstable, but gold is a stable asset," said Supriti Mohanty, a housewife.

Some jewellers are also offering customers the chance to pre-book their favourite items. Discounts between Rs 2,000 and Rs 3,500 have been offered by some jewellers for every 10 gm of gold.

Source : timesofindia.indiatimes.com